News report indicate that Goldman Sachs stands to gain $1 Billion if CIT filed for bankruptcy. CIT was "bailed out" by the U.S. Treasury, and taxpayers can lose $2.3 billion if CIT goes under.
Rhode island, the smallest state in the U.S., has one of the highest "official" unemployment numbers. The state's governor sounded desperate when he asked for the state workers to "share the pain" as they have jobs. He wants the workers union to relax the restrictions against reduced hours and cutbacks in pay. Why shouldn't Rhode Island and other states just sell to Goldman and have Goldman run the country?
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